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Even with the current hysteria over the looming sequestration, outlines of a sensible, bi-partisan compromise are painfully obvious. The Republicans want to trim deficits by cutting spending, while Democrats seek the same result through more sacrifices from the rich.

Why not give both sides what they demand—with government spending less and the rich sacrificing more—by cutting entitlement checks to rich people? It makes no sense to demand that rich people pay more in order to preserve entitlements that they don’t need. That policy may maintain the size of government, but does nothing to help families at any income level.

Instead of complaining that Warren Buffett pays taxes at lower rates than his secretary, we ought to object that his hard-working secretary pays payroll tax to cover ever-rising Social Security and Medicare checks for her billionaire boss.